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Senate Homeland Security Committee Reportedly Planning Hearings

Avatar newsbtc 6 years ago

Capitol Building USA

TIME is reporting that the Senate Homeland Security Committee is planning to hold hearings on Bitcoin within a month, in a report published today.

The committee sent letters to nine federal agencies in July asking for their thoughts on Bitcoins and other virtual currencies in the hopes of developing a holistic approach to the so-called cryptocurrency that neither stifles the currency’s potential nor enables criminals to abuse it.

Tom Carper, committee chairmain said, “As with all emerging technologies, the federal government must make sure that potential threats and risks are dealt with swiftly.”

A rather ominous-sounding statement followed by, “however, we must also ensure that rash or uninformed actions don’t stifle a potentially valuable technology.”

Does this spell trouble for bitcoin?

A user on Reddit points out that Tom Carper is the co-author of the “Protecting Cyberspace as a National Asset Act of 2010,” which essentially gives the presidential administration powers to pull a kill-switch on Internet access in the United States.

Also noted by the user is that Wells Fargo is one of Carper’s top campaign contributors (for those of you outside of the United States, these are essentially bribes).

No set date is in place for the hearing(s) — not one that’s public, anyway — but we’ll keep following this one very closely.

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